Citigroup Trims Eagle Materials (EXP) Target Price to $79.00

Eagle Materials (NYSE:EXP) had its price objective lowered by Citigroup from $111.00 to $79.00 in a research note issued to investors on Thursday, January 3rd. Citigroup currently has a buy rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the company. Standpoint Research upgraded Eagle Materials from a hold rating to a buy rating in a research note on Friday, October 12th. Jefferies Financial Group restated a buy rating and set a $125.00 price objective on shares of Eagle Materials in a research note on Thursday, October 4th. Macquarie initiated coverage on Eagle Materials in a research note on Wednesday, September 26th. They set a buy rating and a $105.00 price objective for the company. Stephens set a $90.00 price objective on Eagle Materials and gave the company a buy rating in a research note on Thursday, October 25th. Finally, Stifel Nicolaus restated a buy rating and set a $117.00 price objective on shares of Eagle Materials in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $106.88.

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EXP stock opened at $65.67 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.44. Eagle Materials has a 1 year low of $57.00 and a 1 year high of $122.49. The stock has a market capitalization of $3.18 billion, a PE ratio of 15.56, a P/E/G ratio of 1.23 and a beta of 1.22.

Eagle Materials (NYSE:EXP) last posted its earnings results on Tuesday, October 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.15). Eagle Materials had a net margin of 19.54% and a return on equity of 19.03%. The company had revenue of $381.50 million during the quarter, compared to analyst estimates of $401.04 million. During the same quarter last year, the business posted $1.31 EPS. Eagle Materials’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Eagle Materials will post 5.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, December 21st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Thursday, December 20th. Eagle Materials’s dividend payout ratio is presently 9.48%.

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in shares of Eagle Materials in the 2nd quarter worth approximately $376,000. Russell Investments Group Ltd. lifted its holdings in shares of Eagle Materials by 26.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 15,998 shares of the construction company’s stock worth $1,679,000 after purchasing an additional 3,318 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Eagle Materials by 256.0% in the 2nd quarter. GSA Capital Partners LLP now owns 11,060 shares of the construction company’s stock worth $1,161,000 after purchasing an additional 7,953 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Eagle Materials by 38.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 18,230 shares of the construction company’s stock worth $1,914,000 after purchasing an additional 5,098 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Eagle Materials in the 2nd quarter worth approximately $6,023,000. 92.39% of the stock is currently owned by institutional investors.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.